N. Korea: Aminex signs deal

Aminex, the London- and Dublin-quoted explorer, has struck a 20-year deal with the government of North Korea to develop the country’s indigenous oil industry. Under the terms of the deal, Aminex has limited financial exposure and will initially provide technical assistance to the North Koreans. The British firm will also receive a royalty on hydrocarbons produced from any new drilling in the country and be entitled to a carried interest in any new wells drilled by incoming companies. Aminex will also have the right to explore anywhere in the country.

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